Skip to main content

tv   Markets Now  FOX Business  November 23, 2012 11:00am-12:00pm EST

11:00 am
dagen: yes, i do because i owe taxes. david: more than enough. dagen: thank you, david, love you, david asman. the holiday shopping rush is on. toys "r" us, one of the several big name stores opening last night. did it work? the chairman and ceo of toys "r" us is here. big labor bearing down on wal-mart out prozesting when they will get the most attention, of course. will it hurt sales at the country's largest private employer? if you can stomach anymore travel after the holidays, bestfares.com's ceo says there's wild and crazy deals straight ahead. he is here. top of the hour, stocks now and over 15 minutes, report gray on the floor. robert, triple digit gain, baby. >> you got it. the traders calling it a meltup.
11:01 am
light volume today, a shortened day, the bell ringing at 1 p.m. eastern time. we are seeing 110 point gain on the dow, creeping up on 13,000 again, s&p at 1400. they are higher at one time or another during today's trading session. industry groups higher as well. in fact, at one point, saw just one or two stocks and s&p 500 lower on the day. what you see as the traders say, don't buy, and seasonality in play here. we talk about that before the open today, about how the day after thanksgiving, particularly, with a rally into thanksgiving, almost always a day with gains. that's what we are seeing now. back to you. dagen: thank you so much, robert gray. marketses close at 1 p.m. this afternoon. consumers doing holiday shopping online this year trumping the number of in-store shoppers for the very first time according to
11:02 am
a survey done by the national retail federation. arie goldberg, manager of stylecaster online. who is taking advantage of this? online only retailers, or are they the big box stores that have much bigger online presences? >> great to see you guys again. you are seeing both, really. this year, we'll see 97% of online retailers offering deals up from 90% last year. you're seeing, obviously, everything going on with digital this year, more e-commerce opportunities, subscription services, and more shopping this year. dagen: in terms of the deals, though, i'm already highly irritated by the number of e-mails that i've gotten from the handful of online retailers that i will give my information out to. at what point to they over promote, though, and drive the customer away or drive customers to another retailers potentially? >> i think that's one of the
11:03 am
more interesting points. actually, this year, we'll see over 51% of people shopping online, the first time in history that a majority of the shoppers are doing their shopping online. each year, we're actually seeing -- not just e-mails, but social networks. facebookings twitter, even stylecaster, you know, doing all that we can to lead consumers to the places they want to shop. there could be over inundation, but we are trying to optimize the experience to help people what they are looking for, and people do it online. we have to help them do it. dagen: which retailers are far and above where they are, their offerings, promotions, how they interact with customers? >> i'm a huge gilt fan. one of my favorite. more interesting, a statistic yesterday talking about website optimization. that's next frontier in web business. they talk about how every one
11:04 am
second delay online actually could lead to almost a billion and a half dollar annual loss in potential revenue. you're thinking that what's going to happen next with businesses is optimizing what we called the in-store experience, and now the online experience. thinking doing for advertising content what nate silver did for politics, we'll have refine and exciting experiences in the coming weeks and years. dagen: one of the worst is target. it's just badly organized. it's hard to find things. it's not intuitive. it's just horrible. it's shocking because it's one of the biggest retailers in the country. >> and that's an amazing thing. you know, we had a transition from brick and mortar to digitallal, not all done in optimal ways, but it's leveraging dagen to to create optimized experiences. in stylecaster, everybody is
11:05 am
getting better on a day-to-day basis. enhance the experience, get people what they are looking for, making the consumer happy, but driving sales for the retail partners. dagen: great to see you, happy thanksgiving. i'm jell -- jealous you're in miami. take care, man, see you soon. >> see you soon. dog dog fiscal cliff negotiations got more complicated. president obama's union supporters are stepping in. our very own rich edson joining us live from washington, d.c.. rich, what do you know? >> well, good morning. the key to the fiscal cliff negotiations, republicans say will talk increased tax revenue if democrats put entitlement reform on the table. medicare, medicaid, social security. there's a major effort by labor unions opposing that effort taking out advertising in states in missouri, pennsylvania, virginia, and elsewhere targeting members of congress to
11:06 am
oppose any type of entitlement reform or changes. the group, in a statement says, elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. on the other side, conservatives say it's not a game changer because from unions, this is really nothing new. >> the fact they are publicly saying what they have been privately saying is helpful the american people understand where obama's intransigence comes from, but nothing's changed. >> they negotiated details this week of the grand fiscal cliff compromise that democrats and republicans hope to reach. lawmakers back in town neex week, and there's a meeting loosely scheduled in the white house against top democrats and republicans in congress with president obama. dagen? dagen: thank you so much, happy thanksgiving, my man. down in washington, d.c., but here in studio with my, monica
11:07 am
crowely, author of "what the bleep just happened?" how do they have influence over the white house and represent in terms of the private job market a tiny sliver of employees in the country? >> it really is incredible. we've seen a hemorrhaging away from the many, many past decades. you're right to say their influence is a lot. it's disproportional to the membership. it's less about the union members and those running those union,s union heads. it should be no surprise here. i mean, barack obama's sympathies lie with the unions and their interests. that's always been the case from the time he was a community organizer straight through to the president of the united states. dagen: fixing entitlements is unavoidable. we're three years from the trust fund going bust. do you think this -- they will influence the president right now? >> remember, dagen, the first group of people invited to the white house after president obama was re-elected were these folks.
11:08 am
they were union heads. they were community organizers. they were far left organizations like move on. they were the first ones brought into the white house. again, no surprise. this is who the president is. these are his people. this is what he believes. it's not a stretch to say the unions are leaning on him, not to do entitlement reform. this is also what the president believes. you're also right to say that at some point, the laws of the economics kick in. we're seeing this now in greece, throughout western europe. when something can want go on, it won't. it will stop. we are going to hit a wall here. this is what governor romney, paul ryan have been talking about. ryan's two years of budget proposals passed by the house, killed by the democrats in the senate saying, look, we know the laws of economics kick in here, and these programs are going to come to a screeching halt because there is no more money, so what we'd like to do now, before the crisis, is try to reform these programs in order to save them, not destroy them. dagen: i said this for years, social security's an easy fix
11:09 am
because you're not dealing with people's health. social security is just, you know, changing the retirement age and changing how the initial benefit is calculated, and that's pretty much it. it seems so simple, but it's hard, nevertheless, to get the republicans a large group of them, to get excited about doing this so do you think that it doesn't happen until, well, until it has to happen? that's a few years from now. >> interesting question because i think one of the big untold stories about the election, you know, yes, barack obama was re-elected, and democrats picked up seats here and there, but the untold story is what used to be third rails of american politics like medicare reform or talking social security because everybody freakedded out dealing with the older voters who do vote, they don't want anything tamped. that didn't happen this time. the author of the big entitlement reform dealing with medicare, they picked up older voters, winning by a huge percentage.
11:10 am
the untold story here is, yes, you can talk seriously to the american people about reform, but you've got to make the argument in rational terms, say we're here to save this before the crisis hits. too often in western societies, we wait for the crisis to hit and everyone runs around with hair on fire. the responsible to do in a superpower is deal with the crisis before it hits, and that's what republicans need to argue. dagen: older voters like the fact that mitt romney doesn't like the federal reserve. they hate ben bernanke because they have no income. >> good point. dagen: great to see you. >> thank you. dagen: a party on the way to the party? a new way to get to sin city from southern california. debatch ri at its best. a tense standoff at the gaza israel border ending with one person dead and several injured. this is just days after that truce was put into place. we have details on that and take a look at the oil markets.
11:11 am
oil up more than 1% today, really following the stock market higher, but 88 bucks plus a barrel. ♪ [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active cabe difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief
11:12 am
for many with ahritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benets with theisks. all prescription nsaids, like celebrex, ibuprofen, naproxe and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increes if you have heart disease risk factors suh as high blood pressure or when nsaids are taken for long periods. nsaids, inclung celebrex, increase the chance of serious skin or allergic reactions or stomach a intestine problems, such as bleeding and cers, which can occur without warning and may cause death. patients also taking aspirin and the eldey are at incrsed risk for stoch bleeding and ulcers. do not take celebrex if you've had an asthma attack, hives, or other allergies to aspirin, nsaids or sulfonamides. get help rightway if you have swelng of the face or throat, or trouble breathing. tell your doctor your medical history
11:13 am
and find an arthritis treatment for you. visit celebrex.com and ask your doctor about celebrex. for a body in motion. i heard you guys can ship ground r less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've b open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office.
11:14 am
11:15 am
dagen: welcome back, everybody. israeli troops killing one palestinian man and wounding 19 others after a charge crowd charged fences with the border country. the violence comes one day into the cease fire, the bloodiest battle between israel and hamas in four years. several groups attempted to enter israel through border crossings in gaza. the shooting does not appear to post threats to the serious fire. apple is getting into the black friday shopping spirit as well this year cutting prices on some of the season's gadgets. this year, consumers save a whopping $31 on an ipad2. isn't the ipad4 out? that's a savings of just 8%. 31 bucks off an ipod touch, 10% in savings, and $101 off a mac book air.
11:16 am
it's a 10% discount. if a wild weekend in las vegas is not challenging enough, how about a party on the way there? the x train is under development. it would include big screen tvs, suites for bachelorette parties and other longses operating between southern california and las vegas. it's a step closer to becoming a reality after a nevada company struck an agreement with union pacific railroad last week. they hope to get the train running by late 2013. x, called x for a reason, like, x-rated maybe? don't flash anybody out the train. you might get a ticket. quarter past the hour or almost. stocks now and every 15 minutes. it's a big day for retail, robert. how's the stocks reacting? >> big day, and i'm feeling big here. the gulliver's report.
11:17 am
it's kids day here. kids joining me, employees bringing kids out for the day, shortened trading day, but retail stocks in focus, moving higher. the broader market here, and you got stocks like wal-mart and best buy moving higher which is near lows as of late. sears a big winner, macy's up 1%. dagen, looking at gains k almost across the board amongst the major retailers out here, and no doubt, some of the kids will force the parents to take them shopping here as well, and, hey, everybody, tell fox business, send wishes out? >> happy thanksgiving! [cheers and applause] dagen: that just made me smile. that's hard to do. >> it is. dagen: terrific sight. report, thank you for doing that. tell them happy thanksgiving from me too, please. this is what i want for
11:18 am
christmas, and i will not be getting one. the beefy, but very beautiful and very, very expensive mercedes g63amg. foxnews.com editor will give you the inside scoop. he drove one of those babies. here, take a look at how world currencies are holding up today against the dollar. ♪ [ male announcer ] you are a business pro.
11:19 am
governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go.
11:20 am
you can even take a full-size or above, and sti pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro.
11:21 am
11:22 am
dagen: looking for a luxury suv built for speed and fun, mercedes has a new g-class truck in production since 1979. it is the oldest new vehicle you can buy, and, oh, you need a load of loot to get it. foxnews.com, automotive editor took the -- well, i'll let you say how much it is. i'm obsessed with this truck, but -- >> $135,000 for this, but it's fully loaded at that price. not really any options on the table there. dagen: better come with somebody to wash it, like, someone to wash it and care for it for me at that price. tell me about the truck.
11:23 am
they don't sell many in the united states a year, do they? >> 500 a year, thousand over all. they have a lower price model, $115 # ,000. handmade in austria. they were military meres back in the 70s, evolved over the years into a offroader, and it's locking deferentials like a big truck, low range transfer case to keep up with a jeep wrangler offroad. dagen: what about the power? >> modified by the amg division of mercedes-benz, 135 horsepower twin turbo v8 #, what you find in the sports car. it's absurd and wonderful. dagen: like, explain to me just describe what it's like driving it. >> you know -- dagen: you took it off road and on road. >> a unique old school truck experience. you're up high, but they tamed it. it's incredible the way you can drive this in an insane fashion,
11:24 am
stays upright, it's fast, and it's powered by thor. you can't imagine the sound. hummer's out of business, this is really the most extreme truck to buy. it's insane. dagen: are they bringing the hummer back? >> not production, but am general, making it for military purposes, they will bring back a humvee in o kit form. get a truck, put an engine in it, and then get it registered in the state. that's $60,000 for whatever motor you want in it, but that's available hopefully next year. dagen: back to the mercedes benz, the gwagon. her say des did not sell the truck in the united states other than the last decade. before that, you couldn't get your hands on it. that's part of what attracting people to it. >> over the years, a gray
11:25 am
market, but they did not go on sale until ten years ago here. it's the most limited edition you can buy. limited vehicles in the country, looking to get 500 of these sold in the united states per year. dagen: scariest thing is a mom driving one around talking on the cell phone and three kids in the back. that's not uncommon sight out in connecticut. >> the window, so high, the backseat stacked up. my 3-year-old could see out of the car. usually you can't do that in a vehicle. this one's just so old and got the -- dagen: took the kids for a ride? >> picking out people in the woods attacking you in the military, but it's good. dagen: you took your kids out in it, teaching them young, and that's getting you in trouble because they'll demand a six-figure car by the time that they are driving age. great to see you. happy thanksgiving. love to your family. >> thank you. dagen: awe motive editor there. coming up, toys "r" us opened
11:26 am
doors an hour earlier than last year on thanksgiving day as shoppers rushed to snap up all of those deals. ceo joins me next in studio. speaking of another type of winner, some on the s&p today. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blarock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses.
11:27 am
read and consider it carefully bere investing. risk includes possible loss of principal.
11:28 am
11:29 am
dagen: toys "r" us one of several retailers matching competitor prices this year. jerry is here to talk about sales. protesters targeting walmart for opening on the holiday. few, if any, walmart workers are
11:30 am
joining in. looking crazy cheap. cheaper than they have looked in a long time. we have all the details straight ahead. it is the bottom of the hour, everybody. stocks now and every 15 minutes. well, it is almost the bottom of the hour. robert. we do not have any audio. we could just look at robert for a minute or so. [ laughter ] he looks very dashing the day after thanksgiving. let's talk to lauren simonetti instead. lauren, what do you know? >> this is my hometown. in fact, i worked here a long time ago. i can tell you from years
11:31 am
experience that it is busy, but not normal like usual. he said with thanksgiving day, they opened at 8:00 p.m. on thanksgiving this year. people were swarming the store. getting 50% off door busters on washing machines and dryers. even water heaters for their house. we are seeing a lot of that. people do that black friday rush and then they do their regular thing for the day. i guess we will have to check in at the end of the weekend to see what the real sales are. i have a guest. i know him really well. it is my dad. this is a great opportunity for me to ask rally what i am getting for christmas. >> what you are getting for christmas is very expensive and it is coming from that store over there. it is a surprise.
11:32 am
>> he is pointing to kay's jewelers. >> i think what i am doing is considering items that are longer lasting, that i can use more often and can help make my life more easier. >> and you are going to the apple store? >> i believe that apple is having a store sale toddy. i am wanting to upgrade my ipad. i have to ipad one. i am going to go to the latest one. i got a lot of use out of that. >> i am vertically challenged. this is the first interview i have ever done without standing on a box. [ laughter ] dagen: lauren, thank you for that. it was a mad -- at toys "r" us
11:33 am
last night. welcoming eager shoppers at 8:00 p.m. that is an hour earlier than last yearr making it a big push to keep the title of king of toys. fifty more door buster deals this year than last. 200, in fact. chairman and ceo of toys "r" us is with us now. tell us how sales were. compared to last year. >> a couple hours into block friday, the head of our store here in times square, people are buying. there you have it. customers were delighted to get a chance to shop at toys "r" us. people were having a lot of fun last night. we played the theme song for toys "r" us. people were dancing as they came into the store. dagen: as i was on my way to
11:34 am
work at three-3:30 a.m. this morning, people were dragging their bags. do you worry about the fiscal cliff, about the tax increases? it could put a damper as you get further into this season. >> you never know. times are certainly difficult. the last thing. cut back on is the christmas present for their child. even in the depths of the recession, sales still grew in december. dagen: you are doing a number of things differently or expanding what you have done in the past. i mentioned the door busters you had yesterday. you are also offering a price comparison guarantee. you are tired of the comparisons to walmart or amazon. does that hurt your bottom line? >> no. we have always had great prices
11:35 am
at toys "r" us. if by some miracle, you find something for less at a competitor, we will match it. they do not even carry most of the toys that we sell. we have service at our store. people really know what the right toy is for your child or the child in your life. just to be sure, we will match competitors prices. our line this year, there is no reason for anyone to shop for toys at anywhere but toys "r" us. dagen: any person grumble for having to work yesterday? >> we work all year for block friday. our employees understand that. we love kids. we love families. we live for this time of year. dagen: you talk about all the toys that you offer versus broader retailers or discount
11:36 am
retailers. what kind of exclusives do you have and what are you seeing being the best seller so far? >> we have versus what we have the limited amount. tammy -- tavio. it is a kid face tablet. it is very great. for $149 they play with that instead of your ipad. what a hot toy. we've had is selling very well this year.
11:37 am
ninja turtles is hard to find. shop early to guarantee you get the toy. if you wait too long, it will be rough. dagen: you have to get it while supplies last. jerry, it is great to see you. happy holidays. enjoy. you made me smile. thank you for that. ceo of toys "r" us, take care. >> thank you. dagen: millions of americans hitting the skies and the road for this holiday. there are major travel deals to be had after the new year. on this black friday, protests going on at some walmarts. do not point the finger at employees. right, jeff flock?
11:38 am
jeff: one person just tweeted it is freezing out here today. i will tell you about the process only come back. ♪ ♪ ♪ [ engine revs ] ♪
11:39 am
[ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going onow -- but hurry, the offer ends soon. >> i am tracy byrnes with your fox business brief. green down on wall street as american choppers do not appear to be the only one in a shopping mood this friday. budget talks in the area clashing. deals possible. they must find additional reductions. there is no queue for not taking online spending. the possibility of lifting the stock on one of the fastest growing markets.
11:40 am
china. they will have to wait until china finalizes plans to set up an international board in shanghai. it is only listed in both germany and new york. that is the latest from the fox business network. giving you the power to prosper. ♪ ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant
11:41 am
dagen: walmart protests continuing around the country this black friday. it is not the employees who are open arms and out walking around. jeff flock is live from illinois with much more. hey jeff. jeff: in fairness, there were a few. no one walking off their jobs that we saw in chicago. some people already had the day off. one guy said they gave me the day off because they knew i wanted to come out and protest. kind of interesting. a protest about the fact that,
11:42 am
you know, they were encroaching on thanksgiving by asking people to work at 8:00 o'clock last night. we have pictures from kenosha, wisconsin, where workers were protesting right at 8:00 o'clock when the store open. it was really all about union organization. about trying to bring a union to walmart and working conditions and wages. a lot of these workers, even though they are complaining about working conditions and wages were not interested in joining a union. that will be interesting. the speculation is at some point they will try to organize a union at walmart. at this point, not so much. dagen: not so much. jeff, by the way, haven't we all had to work on thanksgiving and christmas? four years, i worked on all the major holidays.
11:43 am
jeff: also, when you are in the news business, i have been woken up christmas morning and sent on a plane somewhere. no one does that on business news. dagen: you just jinxed us now. we will have to work on christmas day. i guarantee it. please, go sit in a truck when you are not on. stay warm. many americans will hit the skies and the roads. the best deals, oh, they are yet to come. how good will they be back tom parsons will answer that. how crazy are the prices that you are seeing? >> how about steve martin crazy. wild and crazy. here is the whole thing. we are going to see some super high airfares. much higher than thanksgiving for christmas. if you are going between now and there is a notice between the
11:44 am
18th of december and then around january 7 through the eighth, up until about march 16, that is when you will get crazy deals. dallas, fort worth, where i live to boston, philadelphia and new york city, nonstop, $139. that includes all taxes also. and we look at other cities like boston coast-to-coast or new york coast to coast, we are seeing those fares nonstop for $250 for the first of the year. you may need to be slightly flexible, but those are some of the best deals. even florida, i think, will be the gold mine. even for the los angeles area to four lauderdale are in the mid two hundreds. you are going coast to coast for sure. it is a nice place to be in the wintertime.
11:45 am
orlando, tampa, fort lauderdale, those are the three that i would look at. after january 7, again. and then in europe. this is my best deal. i swear. i cannot believe it is this good. $516 in fuel surcharges. this gives you two continents. asia and europe all in the same trip. it is in -- in -- round trip all taxes included. new york and boston, $500. dagen: one quick thing, though, why are they offering the deals? are bookings falling off the cliff made january? >> there is a lot of us who have
11:46 am
to travel during the holidays. there is a bunch of us on the road this week. then there will be some on christmas. , january, historically every year, we will find some of the cheapest airfares in this country great january and february and maybe one or two weeks into march. then spring break comes in. up until that time, you can fly away with some steals and deals right now. stay away from the caribbean and mexico for christmas. go after the new year. by atv today. wait until after the new year. dagen: happy holidays. thank you. >> same to you. dagen: stocks now and every 15 robert. apple. talk to me.
11:47 am
>> apple is bouncing back from their recent lows. it is trying to bounce back above the downturn. back above its 200 day average. we did note early in the week they are doing black friday specials. looks like they are not discounting the ipad minis. there could be a lot of demand out there. the deals look pretty much the same versus a year ago. shares of apple melting back that back above its 200 day moving average. take a look at the broader market that as well. no one is fighting against that. most of the components of the dow up. the nasdaq and s&p moving higher as well. very light volume is expected today. let's take a look at groupon. attracting some hedge fund
11:48 am
investors. it will come back off the lows. the site changing its name in india to groupon india. well, a lot of stocks in today's session, so much green on the screen. dagen: robert, thank you for that. robert gray at the new york stock exchange. the latest on what is turning out to be the biggest insider trading case in history. charlie gasparino has new details on the charges on a former portfolio manager and billionaire hedge fund tanager. so more winners on the nasdaq. ♪ [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into t marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees.
11:49 am
so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade.
11:50 am
11:51 am
11:52 am
dagen: how interested are the feds. charges against steve cohen, the billionaire hedge fund manager, so badly that even though he has not been charged with insider trading some investigators are likening him to the head of an organized crime family. charlie gasparino has new and exclusive details. charlie. charlie: one way to scare you into cooperating is to say, listen, pal, we believe you are working for an organization that commits crimes regularly and is not much different than organized crime. senior investigators at the fbi are doing this. they are pulling out a mob charge when they talk to witnesses. are we saying steve cohen is a
11:53 am
mafia leader, no. he denies it, of course. the worst thing he could say is trading at insider information. as you know, i always said it is a victimless crime. i have a problem with this whole thing. it is what it is. clearly, the fed thinks it is really bad stuff. they either approach witnesses with this stuff were when the witnesses come into office, they pull out the thing and they say this is where we think steve cohen is at the top and this is where we think you are in the context of all of this. a chart that looks just like a chart that describes organized crime. we ran this by the officials that sec capital. they have no comment. the fbi has no comment. obviously, they brought charges against the latest gentlemen matthew martone who received insider tips on a drug company.
11:54 am
they brought charges against him because he would not cooperate. whatever they showed him did not work. that is why they brought the charges. i know the journal came out with a big story today. that is not man bites dog. you get charged, generally, in this type of case when you do not cooperate. he is not cooperating. the fact that he is not cooperating, everyone knows that steve cohen, the fact that they have not brought charges against him, they cannot bring a charge. whatever information he knew as portfolio manager, there is no direct evidence that steve cohen knew he was trading on insider information. that is the key difference. they believe there is an issue here with steve cohen.
11:55 am
no charges filed yet against steve cohen or as ac. seven managers or executives, i guess, have been charged with insider investigating. they are looking at him and his firm very closely. the fox business network, about a year ago, i think it was february, the first to report that steve cohen home phone was bugged. sometime around 2007-2008. they had a court order. they have probable cause to get that. the point is, they have been looking at this guy for a long time. they still have not got him. they think something is wrong there. dagen: organized crime. right. charlie: when the fox business network was first to report all of this, he recommended that we show in organized, a chart like
11:56 am
in organized crime chart that describes how it works. he believed, based on his information, that the feds really believed this was an organization that commits crimes. obviously, not murder and extortion. they got really annoyed at that. they went nuts on that chart. we can tell you right here, guys, you may not like it, but the feds do have a chart of as ac in their office with unfortunately mr. steve cohen on the top. dagen: happy thanksgiving. charlie gasparino all over this story. shoppers all over. taking advantage of the black friday deals. cheryl will talk to the ceo of macy's.
11:57 am
♪ this is america.
11:58 am
11:59 am
we don't let frequent heartburn come betweeus and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur

146 Views

info Stream Only

Uploaded by TV Archive on